Office of the CEO
The Office of the Chief Executive Officer (CEO) is composed of two Units – the Internal Audit as well as the Company Secretary and General Counsel.
COMPANY SECRETARY & GENERAL COUNSEL
The General Counsel is a Support function in the bank responsible for ensuring that the Bank complies with the standard financial and best legal practice, and maintains good standards of corporate governance. The Unit oversees the activities 3 functions. These functions are governance, legal project finance and Collateral Management.
Through the 3 functions, the Unit acts as a link between the Management, Board of directors and company stake holders (shareholders, customers etc.) in primarily ensuring good corporate governance at the bank, mitigating risks and maximizing the rights of the bank in its engagements.
The following strategic objectives will be used to measure the General Counsel’s performance:
- Provide timely and comprehensive facilitation to the Board to effectively carry out their fiduciary duties.
- Provide expert and strategic legal advice to Management and the board.
- Ensuring compliance with standard financial and legal practice and maintain high standards of corporate governance at the bank.
- Mitigation of risk and maximization of rights
- Engender best practice in in-house and board secretarial activities at the bank.
- Impact positively on the Loan portfolio quality of the bank by overseeing the proper collateral management of the bank’s assets.
INTERNAL AUDIT UNIT
The internal audit function is an integral component of sound corporate governance and risk management practices in banks as recognised through statutory obligations and BRD’s governance framework.
The Board Audit Committee has approved an audit charter that effectively pronounces that “the primary role of Internal Audit Function is to help the Board and Executive Management to protect the assets, reputation and sustainability of BRD; The Board and Executive Management of BRD shall rely on Internal Auditing for Objective Assurance and Insight on the effectiveness and efficiency of Governance, Risk management and Internal Control Processes”.
The internal audit function has developed an Internal Audit Strategic plan 2016-2018 that is aligned to the Bank’s new strategic plan 2016-2020 that ensures that the internal audit annual work plans and activities are value adding.
To ensure Independence and authority of the internal audit function, the Chief Internal Auditor reports functionally to the Board Audit Committee and administratively to the Chief Executive Officer.
There is a strong commitment of the Board Audit Committee and the Chief Executive Officer to support the development of a value adding world class internal audit function and this entails continuously reviewing the positioning of the function within the bank, involving Internal Audit in the Bank’s strategic decisions and providing the necessary technical assistance resources to ensure the function conforms to all aspects of the International Standards for the Professional Practice of Internal Auditing.